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Introduction to leasing and hire-purchase

This section considers the liability of supplies and activities of the leasing and hire-purchase sector, including:

1. Ìý

   •ÌýÌýÌýÌý whether a supply in the sector is one of goods or services

2. Ìý

   •ÌýÌýÌýÌý the liability of supplies in the sector

3. Ìý

   •ÌýÌýÌýÌý place of supply considerations of particular relevance to the sector

VAT recovery and other practical points for the sector are covered in V6.289, including (amongst other topics):

1. Ìý

   •ÌýÌýÌýÌý partial exemption issues

2. Ìý

   •ÌýÌýÌýÌý the time of supply

3. Ìý

   •ÌýÌýÌýÌý valuation

The focus of this section and V6.289 is on the lease and hire-purchase of motor vehicles, transport and equipment as opposed to the leasing of land and property.

Goods or services—hire-purchase and leasing

Whether a supply is of goods or services is of importance for a number of reasons:

1. Ìý

   •ÌýÌýÌýÌý it will determine the place of supply (see below)

2. Ìý

   •ÌýÌýÌýÌý it affects the valuation rules applicable to the supply (see V6.289)